Withdrew Of Cash From Bank For Office Use Journal Entry
Withdraw Cash From Bank For Business Use / Office Use Accounting Equation When the cash is withdrawn from bank for office use or business use, then it creates a Contra Entry as cash is withdrawn from the bank account of the business and store into the custody of cashier i.e., cash is coming into the business, so if drawings made from bank for office use or business use is related with the business matters. For Example, Mr. X, as a Sole Proprietor, withdrew Rs. 7000 from bank for office use, then the following contra entry is recorded as shown below: Cash a/c 7000 ...